RICHMOND, Va.--(BUSINESS WIRE)--Dominion Energy released the following statement in response to the U.S. Department of Interior's Director's Order for a 90-day suspension of work issued earlier today for the Coastal Virginia Offshore Wind project: The Coastal Virginia Offshore Wind Project (CVOW) is essential for American national security and meeting Virginia's dramatically growing energy needs, the fastest growth in America. This growth is driven by the need to provide reliable power tomany of America's m ...

Financial Data and Key Metrics Changes - Q3 operating earnings were $1.06 per share, including $0.03 from RNG 45Z credits and $0.06 from worse-than-normal weather, with GAAP results at $1.16 per share [5][6] - Full-year guidance range narrowed to $3.33 to $3.48 per share, maintaining the original midpoint of $3.40 [6][7] - Year-to-date weather has become a small headwind of approximately $0.02, contrasting with earlier tailwinds from sales and weather [6] Business Line Data and Key Metrics Changes - The Coastal Virginia Offshore Wind (CVOW) project is now two-thirds complete, with project costs at $11.2 billion and approximately $8.2 billion invested to date [10][11] - Data center demand has increased to approximately 47 gigawatts, up 17% from December 2024, with significant growth in various stages of contracting [18][19] Market Data and Key Metrics Changes - Current residential electric rates are 9% and 11% below the U.S. average for DEV and DESC, respectively [24] - The project’s levelized cost of energy (LCOE) has been updated to $84, which remains competitive compared to other generation resources [14][15] Company Strategy and Development Direction - The company focuses on achieving financial commitments, completing major construction milestones for CVOW, and achieving favorable regulatory outcomes [4] - A comprehensive capital investment forecast update through 2030 is expected in the Q4 earnings call, with a focus on customer affordability and system reliability [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering on financial plans despite challenges, emphasizing a conservative approach to balance sheet management [7][32] - The company anticipates continued bipartisan support for CVOW, which is critical for infrastructure upgrades and energy supply [25] Other Important Information - The Charybdis wind turbine installation vessel has faced delays but is expected to be cleared for turbine installation in November [17][18] - The company is actively working on various utility-scale solar and storage projects, representing about $2.9 billion in new investment [23] Q&A Session Summary Question: Political risks regarding CVOW project - Management noted bipartisan support for CVOW across all levels of government, indicating confidence in project continuity regardless of potential political changes [25] Question: Status of Charybdis and punch list items - The punch list for Charybdis includes about 200 items, with 120 already closed out, and the team is confident in completing the remaining items by November [26][28] Question: Capital plan and balance sheet capacity - Management indicated that the capital plan will be updated in early 2026, with a focus on maintaining balance sheet conservatism while exploring various funding sources [30][32] Question: Impact of potential delays on financial guidance - Management expressed confidence that any delays in turbine installations would not significantly impact financial commitments made to investors [50] Question: Data center load and energization timing - The company continues to see robust demand from data centers, with energization dates for over 100 delivery point requests stretching through 2031 [43]